Wgu Vzt1 Martketing Plan

2192 Words9 Pages
Table of Contents

Introduction 3
Product Description and Classification 3 Product Support of Mission Statement……………………………………………………………………………………………….….3
Consumer Product Classification 3
Target Market 3
Competitive Situation Analysis 3
Analysis of Competition using Porter’s Five Forces Model 3
SWOT Analysis 4
Strengths and Core Competencies 5
Weaknesses 5
Opportunities 5
Threats 5
Market Objectives 6
Product Objective 6
Price Objective 6
Place Objective 6
Promotion Objective 6
Marketing Strategies and Implementation 7
Product Strategies 7
Price Strategies 7
Place Strategies 7
Promotion Strategies 7
Explanation of Strategies………………………..……………………………………………………………………………………………….7
Implementation Plan 7
Product Tactics 8
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According to recent studies, the age group of 25-40 year old males and females purchase a reliable amount of small appliance to bring in this product. A household income of $40,000 a year is enough purchasing power for a household to afford this product. Through recent studies, it has shown that cocktails are mostly popular with individuals that like to share their experience with others and go to bars and restaurants because of the specialty cocktails that are offered. The United States has been chosen as the target location because of Company G’s location.
Competitive Situation Analysis
Analysis of Competition using Porter’s Five Forces Model
The competition has been analyzed by using Porter’s Five Forces Model. By gathering an analysis of the threats that can come from competitive rivalry, potential new entrants, bargaining power of buyers, bargaining power of suppliers, and substitutes, Company G can be better compared to its competitors.
Competitive Rivalry: There is a moderate level of threat from the competitors in the small appliance market. There may be many small appliance companies but there are only a handful of companies that produce similar products as what Company G is offering.
Potential New Entrants: There is a moderate level of threat from new companies gaining a foothold into the small appliance market, because of how the market as vast as it is

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